Look into the interest rates, minimum savings required in the account, easy online facilities are few of the many options we should consider while choosing a savings account with any respective bank. But, still we get confused. Suggestions on a reliable bank and why you think it’s good.
Interest on savings bank account is calculated on daily basis as per the closing amount. But, interest is credited to the savings account on quarterly basis only.
Monthly Interest= Daily balance*(No.of days)*Interest/(Days in the year)
The normal rate of interest on savings bank account is 3-4% p.a. only these days. Few banks may provide a bit higher, that too if you have high balance in your savings account.
Hi, I personally trust SBI. I have a savings bank account here. I know there are so many private banks competing for providing better services and getting more customers. But, its been a long period now.
Retired people don’t wish to switch over bank accounts easily. SBI has proved to be the best bank for me. I had faced minor issues initially. But, I am their regular customer. The staff respects me and responds fast when I visit the branch.
Keeping huge money in a savings bank doesn’t seem to be a good idea. One should invest it somewhere else like PPF, mutual funds etc. to get better returns.
The interest on savings bank account is too less. So, it anyways doesn’t seem wise to keep big amounts in savings account. We should diversify it in other investment instruments.
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hey , Ashit this side . I would love to help you out,
Overall, HDFC Bank and State Bank of India (SBI) are considered the best choices for opening a savings account in India. HDFC Bank stands out for its excellent digital banking services, smooth mobile app experience, good customer support, and wide ATM and branch network, making it ideal for salaried individuals and people who prefer hassle-free online banking. On the other hand, SBI is the most trusted government-backed bank with the largest branch and ATM presence across the country,
Thankyou
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maybe you are right . This will not only make our assets safe but also multiplies it as they also provide high interest rates.
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